Who holds the 1st key?
August 24th, 2023 | 
Author: 
The Elected President holds the second key to our reserves.
But who holds the first?
It can’t be the government (Cabinet) since they are requesting the money.
In a representative democracy, as in ours, parliament holds the first key. They represent the people and gives the people’s consent when the government wants to draw on the reserves.
But how can parliament do its job when it is not privy to the size of the reserves? A friend of mine rightly commented that “you can’t manage what you don’t know”.
Nonetheless, every annual budget, and every supplementary budget that draws on the reserves to increase the original budget as happened in 2009 and 2020, has to be passed by parliament.
If one cares to read the “debate” during those sessions in parliament, one can’t help but notice the “wayangs”. For example, in the session in 2020, MPs went on and on about how wonderful the substantially increased budgets were as they would “save jobs” and “protect workers” and help Singapore “emerge stronger from the pandemic”, and how lucky Singaporeans are as our forefathers had worked hard to accumulate the reserves, but not one MP asked how much we had in our reserves. How could they approve a decision to draw on the reserves when they didn’t know how much was in it?
In the end, the decision to substantially increase the budget that will draw on the reserves, called the Revised Supplementary Supply Bill 2020, was approved by parliament in one sitting without even a formal vote as the verbal “yeahs” drowned the “nays”.
But then, would anyone expect the bill not to pass given that one party has a supermajority in parliament?
So really, the “first key” is not a key, but a rubber-stamp. And as long as one single party has a supermajority in parliament, it will continue to be so.
The only key left to guard against the government raiding our reserves, as things stands now, is the President. So, he better be independent!
Foong Swee Fong
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Posted in 
True,THE EP must perform his/her sacred duties as THE ELECTED president of the PEOple and NOT the ERECTed pre$udent of the PAPple who reigns parliament.
The RESERVES BELONG TO THE PEOple of Singapore,not the PAPple ofSingapore.
So far,both Nathan and Halimah were ERECTed.
THE FACT THAT MANY NON-sgs WERE GIVEN MUCH MORE THAN THE $600 that MANY needy sgs received demonstrates the ERRANT WAY IN WHICH SGS’ RESERVES were disbursed.
This must NEVER repeat.
So,an INDEPENDENT EP IS IF PARAMOUNT INPIRTANCE,whatever and however.
TKL IS MOST APPROPRIATE TO BE EP.
Tharman is most inapproptiate.
Afterall ,Tharman could have ensured A MUCH FAIRER N DECENT SUM TO BE GRANTED TO SGS as he was still influential as Co-ordinating Minister.
What makes you think Tharman will do better as EP as regards how our reserves should be equitably distributed in future?
At least NKS can be given a chance to prove his sincerity.
So,best sg to be EP is TKL.
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The reserve “warehouses” have many buildings and many doors each. The highly elevated President has only 1 key to 1 warehouse. It’s a joke on Singaporeans.
For example, we are told pandemic reserve takeout is $100 billion. But we know NOTHING about where that come from. Did they withdraw $100 billion from GIC, from TH, or somewhere else? Did they sell land? Nothing. The $100 billion magically jumps out of reserve.
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Look like the best outcome is the true independent NKS who does not have any “Party” support…
Also paying from his own pocket the campaign full running cost for EP…
This type of EP where to find ?
Tech: Ng’s fiancee is a multi-billionaire and he himself is a billionaire too, so 800k is wat?
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This joker still believes $inkeland is a ‘constitutional democracy’. No wonder this island is going to pot.
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You say it right.
What is $800K to these rich folk$.
PEANUTS lah.
$800K is one HDB for poor like me.
Takes a lifetime to pay off.
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This one is going to lose his deposit. In the fierce struggle, no one is sitting on the fence.
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Final Tally.
TS : 42 pct
NKS: 28 PCT
TKl: 30 PCT
My 2 cents guess.
Any takers?
TS likely winner.
What does Avanda CIO think?
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@rock
My counter prices.
TS 37 pct
NKS 30 pct
TKL 33 pct.
TS still win but by less than 5 pct.
TS is more acceptable to the middle and lower income groups
NKS the more ATA$ group especially the more well-off voters plus catholic voters.
TKL gets votes from the 40 pct group but not all of them.
My last $2.
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In 2016, I predicted 70% Donald Trump would win the Presidency of USA!
Come 1st September 2023, I am predicting the following:
TKL : 52%
Botak : 40%
Ng Cock SeePeh Song : 8%
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For PAP voters, this is be your once in a life time opportunity. You get to keep PAP in government and you get a President who can keep PAP motivated to really serve you.
A vote for TKL is a vote for PAP to serve you.
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One Key to Rule Them All
“My Preciousssss…. My Precious Reserves!”
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Parliament, with MPs representing majorities, holds the “first key”, rightly. But, then, citizens at large also, and so, also, political parties not in Parliament; for they are the very citizens MPs represent. They have their right to say, and it’s only because of impracticality that they cannot say in Parliament and have to be represented. And so, to respect their rights, their views, expressed outside Parliament, shouldn’t be ignored but dutifully answered also. Views, especially those posted by Kenneth Jeyaretnam, not just undoubted expert fund-manager and economist, but a Party Chief. Yet, the rulers have all these many years remained silent as to his views, and that, despite Goh Chok Tong’s solemn declaration that, should they not sue (or at least respond, defend and clarify), they should resign at such allegations as Kenneth’s.
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Maybe the first key should be the Presidential Council and the 2nd key the President better.
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The pappy govt & cronies keep saying their EP focus is to show face to the world, must hv good international standing. What’s the Foreign Minister for?
The people wants a truly independent President to focus on safeguard of SG reserves & improve the lives of the people by tackling the HDB, GST, COL,
jobs & other areas of concerns!
IT’S A GOOD THING FOR THE PEOPLE TO VOTE A TRULY INDEPENDENT PRESIDENT WHO DESIRE TO BOTH SAFEGUARD SG & PROTECT & IMPROVE THE LIVES OF PEOPLE!
VOTE WISELY! VOTE TKL!
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As for a truly independent Presidential hopeful one can safely write off TS and NKS.Why? How not TS be dependent given his many decades of closed association with the establishment.
Of late he even confirmed his close association with both PM and DPM might help move issues advocated by him.NKS has been and is still beholden to GIC and TH both outfits of the PAP government.He has no choice but have to “kiss” and “lick” the “hand”that “feed” him all these years.So as far as being independent is concerned your guess is as good as mine
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How you know NKS billionaire.
Avanda’s money belong to investors or him.
Anyway,I agree with Buffett.
Looks like close fight.
Tharman wins by small margin.
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The EP is simply a very expensive piece of furniture strictly for display purpose.
This is just one trick PAP is using to fool the people about ‘an additional key’.
The EP doesn’t know nor allows to know how much assets he is suppose to be guarding. He is blinded.
So how is the EP supposes to know if anyone is to pocket any asset?
He won’t know. He’s blindfolded & sits in a darkened room.
At the end of his term, he congratulates himself & pride himself of giving his best & doing an honourable job.
He found the non existence black cat.
So what’s all this fuss about electing an EP?
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The best way to safeguard our reserves is to vote for at least 33 oppo MPs into Parliament.
33 is a good number.
EP TKL without 33 OPPO MPs is not much use.
Like some say here,both T$ and NK$ are from same famiLEE.
They are like $ibling$ or at least cousin$.
So,TKL is the only choice for 40 pct as most,if not all,of the 60 pct will only vote T$ or NK$.
Vote TKL.
Even if win by “7000” votes also become EP like TT.
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”Billion-dollar money laundering case: What will happen to cars, bags and watches seized by police?”
105 properties were bought using laundered money.
105 times 2 conveyancing lawyers were involved –210 times.
None of these lawyers detected money laundering.????
First case was 2017, 6 very long years ago.
”Tharman served as Chairman of the Monetary Authority of Singapore (MAS) for 12 years from 1 May 2011 until 7 July 2023”
Fujian Mafia ML case happened under Tharman nose.in broad daylight.
Tharman—-your comment please.
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NKS is said to be not spending anything in his PE campaign. Rightly so, that’ll not take away the publicity from his kakilang Tharman.
See how he is supporting Tharman and the Shit Times is giving prominence to this PAP crony.
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@blind leads the blind
NKS job is to split the votes so that TS wins. He budgets $60,000/- for it. He may recover this cost from his dealings with TH. He has no loss,displays his 45year old girlfriend, gives a few speeches, visits a couple of hawker centres and his work is done. He may get another $3b from TH as reward. Singaporeans should give all their votes to TKL to counter NKS.
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NKS is saying he does not put up posters because not environmentally friendly.
So,he claims this is in line with govt policy.
So next GE ,all no posters leh.
Even NTUC,Fairprice charge for plastic bags.
If GE,any PAP candidates put up posters,it will be against PAP govt policy.
So,only oppo parties should put out posters as they don’t need to be in the line.
You know what.
NKS seems half-hearted.
Maybe he meditate and pray he is not elected.
Afterall,Sybil prefers to be PRIVATE.
At least can hold hands or kiss in public like at ElizabethWalk.
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The woods are lovely,dark and deep.
Miles to go before we sleep.
He who holds The Key Must Never “$leep”.
Kok Song and Sybil are new lovebirds.
Kok Song must not hold The Key
Or Sybil will feel like a caged bird.
Tharman must not be the man
For he is The PAP man.
So, let KIN Lian holds The Key
And make the People be more happy.
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That is what the Old man wanted that a rogue govt don’t spend the reserves and proposed an elected presidency.
Yes, let’s get an Independent president this time since the likes of the last independent president OTC.
Long Over due.
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